Asian capital backs launch of Savills IM UK Value Add Residential Fund
The fund seeks to raise £200m (US$241m) for UK build-to-rent residential platform
New strategy aims to deliver high quality institutional-grade housing stock in an underserved UK market
Asian capital expected to secure seed investments
Savills Investment Management (Savills IM), the international real estate investment manager, has launched a UK build-to-rent strategy. The new vehicle will seek to develop and forward fund both single and multifamily residential assets with a focus on regeneration areas and master-planned schemes that display strong characteristics such as favourable renter demographics, evident supply/demand imbalance, and access to growing employment hubs. The platform aims to deliver high quality, future-proof, and professionally managed housing stock in the currently underserved UK market.
The Land Managers (TLM), the real estate investment division of the JL Family Office (JLFO), is the fund’s cornerstone investor. JLFO manages the private investments of Asia Pacific real estate veteran John Lim. This is TLM’s second partnership with Savills IM; in October 2021, it also invested in Savills IM’s retail park strategy to capitalise on the strong income-producing characteristics of the UK retail parks sector.
The fund will leverage the research and broking capabilities of the residential team at Savills IM’s parent company Savills plc, the dominant UK residential player.
This Fund launch has also coincided with Savills IM’s acquisition of UK residential sector specialist, Pitmore. Pitmore is one of the UK’s most experienced residential advisors , being involved in the Private Rented Sector since 2012, and continues to manage some of the largest housing development sites in the country. The fund team comprises the core former Pitmore senior partners; Vittorio Davico, Tommy Adeane and Peter Wyatt.
“We are very excited to join the Savills IM family and to be able to launch the new Value Add Fund so quickly. We are working on an attractive seed asset and a deliverable pipeline. Hence, we are optimistic that we can deploy effectively and generate value for investors,” says Davico.
Andy Lim, Group CEO of JLFO and Founder of TLM, adds: "TLM’s strategy is to increase our exposure to defensive assets that benefit from long-term structural supply and demand dynamics, and the build-to-rent residential sector in the UK is one such sector that we are very optimistic about.
“We are glad to have found a trusted partner in Savills IM, with a proven depth and breadth of expertise in the UK real estate sector, to diversify our portfolio outside of Asia Pacific, and are confident that it will be able to deliver strong performance amidst rental growth rise, and burgeoning demand for quality rental properties in the UK.”
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Press contact
Alex Hogan
Tel: + 44 (0) 7730679996
E: savillsim@citigatedewerogerson.com
About Savills Investment Management
Savills Investment Management is an international real estate investment manager with offices in Amsterdam, Frankfurt, Hamburg, Katowice, Kuala Lumpur (as part of a cooperation agreement with Savills Malaysia), London, Luxembourg, Madrid, Milan, Munich, Paris, Singapore, Stockholm, St. Helier, Sydney, Tokyo and Warsaw.
As of 30 June 2021, Savills Investment Management managed total assets of EUR 24.3 billion.
Savills Investment Management is the brand name used to represent Savills Investment Management LLP and its subsidiaries.
Savills Investment Management LLP is a limited liability partnership registered in England No: OC306423 authorised and regulated by the Financial Conduct Authority.
Savills Investment Management is regulated in the UK, Australia, Italy, Germany, Jersey, Japan, Luxembourg and Singapore.
About The Land Managers
The Land Managers Holdings Pte. Ltd. (TLM) is an institutionally managed boutique real estate investment firm under the JL Family Office (JLFO), the investment holding group of companies founded by Asia Pacific real estate veteran, John Lim. Helmed by his son, Andy Lim, TLM forms the cornerstone of the JLFO real estate ecosystem, which strives to create long term value via strategic collaborations with other real estate players in the development and investment space.
With assets under management of approximately S$250m, TLM leverages its wide regional network and strong track record in real estate to invest in value-add and development opportunities in gateway cities globally, with a focus in Singapore, Greater China and Europe, across all asset classes.
For more information, please visit http://www.jlfo.com.sg/.
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